Post
Topic
Board Press
Re: [2015-08-17] Snowden: Bitcoin is flawed and nobody likes to talk it anymore
by
TraderTimm
on 17/08/2015, 13:21:27 UTC
He hasn't taken a deep-dive into the protocol, as you can see from his quote regarding 51% attacks - he views that as a fatal flaw, as the rest of us understand that such an attack takes enormous resources not only to mount, but to maintain such a position. (And nobody has ever gotten an upper hand that way in Bitcoin's history - specifically by introducing their longest chain with forged or retracted transactions, either). Some pools may have come close to the line, but it wasn't the end of the entire system.

I think he has other things on his mind, most notably extending his stay in the former USSR or getting asylum in another country to prevent his extradition. That's what I chalk it all down to, he read some bullet list somewhere and didn't really take the time to consider the system in its entirety.